Trouble referencing images on local Viewport
When Display Perspective is disabled in the settings of the Empty then it always disappears as soon as you change your view from orthographic into perspective view. Enable it to see the Empty in perspective view as well.
When enabled and the frame is there but appears empty, that's because the face normal (or the orientation axis of the Empty, since there is no real &quot;face&quot;) is pointing the other way. Above the Display Orthographic setting, switch Side to &quot;Back&quot; or &quot;Both&quot;. At the moment it's set to &quot;Front&quot; but your view is on the back of the Empty. Or you simply rotate it 180° on the Z axis if you want to keep one side transparent.
Another reason if it still doesn't appear is that Only Axis Aligned is checked. This makes the image disappear if the view is rotated off-axis.
Best is you check out all the settings in the red framed area in this image. The settings shown there are the default values.